Post by art on Oct 1, 2016 11:38:21 GMT
The table below sums up all defaults on Mintos platform to-date. The total of the below loans match with total defaults on Mintos Statistic page as of today.
For me as an investor its critically important to understand how loans on the platform will perform overtime: what will be the default rate for various types of loans and what will be the recovery process and recovery rate.
Below will provide at least anecdotal information about recovery process and success rate.
Loan Type Issuer Outstanding Date Defaulted Date Recovered Total recovered Last Collection Comment
90493-01 Mortgage Hipocredit EUR 5,000 12.08.2016 Loan agreement is terminated, recovery started (August 12th)
12691-01 Mortgage Hipocredit EUR 2,445 23.08.2016 Loan agreement is terminated, recovery started (August 23rd)
45230-01 Business Capitalia EUR 9,334 12.09.2016 Collection document given to Antstolis for forced collection from company and guarantor assets. Loan agreement is terminated. News can be expected in 30 days. (September 12th)
29331-01 Business Capitalia EUR 18,647 12.09.2016 All collection actions are stopped until court. Court date is 2016.09.20 15:00. Pledged inventory is secured and arrested. Loan agreement is terminated. (September 12th)
186968-01 Auto Loan Mogo EUR 2,154 16.09.2016 debt_collection_status.description.repossessed Cost of recovery so far: € 148.18 (September 30th)
202999-01 Auto Loan Mogo EUR 966 20.09.2016 debt_collection_status.description.unsecured Cost of recovery so far: € 318.42 (September 27th)
15354-01 Mortgage Hipocredit EUR 14,239 20.09.2016 Loan agreement is terminated, recovery started (September 20th)
182200-01 Auto Loan Mogo EUR 1,698 22.09.2016 Loan agreement is terminated, recovery started (September 22nd)
199648-01 Auto Loan Mogo EUR 2,469 27.09.2016 EUR 85.41 (ongoing) debt_collection_status.description.out_of_court_recovery (September 27th)
199644-01 Auto Loan Mogo EUR 1,018 29.09.2016 debt_collection_status.description.out_of_court_recovery / Cost of recovery so far: € 16.89 (September 29th)
My intention is to come back to this thread and update the table from time to time. Holding originators accountable for their collection process is crucially important, as this is key process that should influence our investment decisions and expected return calculations.
For me as an investor its critically important to understand how loans on the platform will perform overtime: what will be the default rate for various types of loans and what will be the recovery process and recovery rate.
Below will provide at least anecdotal information about recovery process and success rate.
Loan Type Issuer Outstanding Date Defaulted Date Recovered Total recovered Last Collection Comment
90493-01 Mortgage Hipocredit EUR 5,000 12.08.2016 Loan agreement is terminated, recovery started (August 12th)
12691-01 Mortgage Hipocredit EUR 2,445 23.08.2016 Loan agreement is terminated, recovery started (August 23rd)
45230-01 Business Capitalia EUR 9,334 12.09.2016 Collection document given to Antstolis for forced collection from company and guarantor assets. Loan agreement is terminated. News can be expected in 30 days. (September 12th)
29331-01 Business Capitalia EUR 18,647 12.09.2016 All collection actions are stopped until court. Court date is 2016.09.20 15:00. Pledged inventory is secured and arrested. Loan agreement is terminated. (September 12th)
186968-01 Auto Loan Mogo EUR 2,154 16.09.2016 debt_collection_status.description.repossessed Cost of recovery so far: € 148.18 (September 30th)
202999-01 Auto Loan Mogo EUR 966 20.09.2016 debt_collection_status.description.unsecured Cost of recovery so far: € 318.42 (September 27th)
15354-01 Mortgage Hipocredit EUR 14,239 20.09.2016 Loan agreement is terminated, recovery started (September 20th)
182200-01 Auto Loan Mogo EUR 1,698 22.09.2016 Loan agreement is terminated, recovery started (September 22nd)
199648-01 Auto Loan Mogo EUR 2,469 27.09.2016 EUR 85.41 (ongoing) debt_collection_status.description.out_of_court_recovery (September 27th)
199644-01 Auto Loan Mogo EUR 1,018 29.09.2016 debt_collection_status.description.out_of_court_recovery / Cost of recovery so far: € 16.89 (September 29th)
My intention is to come back to this thread and update the table from time to time. Holding originators accountable for their collection process is crucially important, as this is key process that should influence our investment decisions and expected return calculations.